Redgate acquired OÜ Westenpark

OÜ Westenpark (www.weimer.ee) produces carriages,
cranes, grapples and winches under a brand name Weimer. The trade mark Weimer
comes from Sweden and the history dates back about 60 years. Production is
located in Tartu. Company’s main markets are Austria,
Germany, Sweden, Norway, Slovenia and Ukraine. The brand is well known for its
durance and good technical solutions. In 2013, the company generated revenues of 4.8 MEUR. Company’s former
owner and CEO Mr. Lennart
Cederqvist will continue in the management board together with the new owners.

„Weimer is
well known for buyers in the target markets and they value the product for its
high quality. We see growth potential for the company and believe we can
increase the sales in the coming years“, commented Redgate Capital’s Senior
Partner Mr. Mart Altvee.

The parties have agreed not to disclose
the transaction price.

Redgate is interested in Estonian and
neighbouring countries’ companies with good growth potential. Investment
capital comes mainly from the Baltic and Scandinavian investors. Redgate actively
manages all the investments.

Previously Redgate Capital has acquired a
printing services and graphic design company Ecoprint; metal and steel importer
and wholesaler Reval Nordic Steel; a building material sector company Põltsamaa
Graniit; a wooden element and log houses producer RPM Group; and one of the
largest locks and related accessories retailer, wholesaler and service provider
in Estonia - Luku-Expert OÜ. Redgate made a successful exit from Reval Nordic
Steel in 2012 when the company was sold to ELME Metall (part of BLRT Grupp), other
companies continue to grow according to the strategy.